Scilex Makes Waves with Bitcoin-Powered AI Acquisition

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Scilex Holding has finalized its $150 million strategic investment in Datavault AI through an unconventional payment structure that saw the second tranche settled in Bitcoin. This move signals a dramatic strategic pivot for the biotechnology firm as it ventures beyond its traditional focus areas.

The completed transaction involved the full exercise of a pre-funded warrant, resulting in Scilex acquiring approximately 263.91 million shares of Datavault AI common stock. This follows an initial $8 million payment made in September that also utilized Bitcoin. The cryptocurrency-based approach to such a substantial corporate investment highlights increasing institutional acceptance of digital assets for major financial transactions.

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